News Co. (NASDAQ:NWSA) Stock Position Lessened by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lowered its stake in News Co. (NASDAQ:NWSA) by 2.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,829 shares of the company’s stock after selling 1,004 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in News were worth $933,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NWSA. Principal Securities Inc. bought a new position in shares of News in the fourth quarter valued at approximately $45,000. Janney Montgomery Scott LLC bought a new stake in shares of News in the 4th quarter worth $1,255,000. Norges Bank acquired a new stake in shares of News in the fourth quarter valued at $139,956,000. BI Asset Management Fondsmaeglerselskab A S boosted its stake in News by 67.6% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 16,781 shares of the company’s stock valued at $412,000 after buying an additional 6,768 shares in the last quarter. Finally, UBS Group AG grew its holdings in News by 647.1% during the fourth quarter. UBS Group AG now owns 344,652 shares of the company’s stock worth $8,461,000 after acquiring an additional 298,521 shares during the period. Institutional investors own 66.97% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NWSA shares. Loop Capital raised their price objective on shares of News from $38.00 to $39.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. raised their target price on shares of News from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $38.00.

News Price Performance

NASDAQ NWSA opened at $26.34 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.33 and a debt-to-equity ratio of 0.32. News Co. has a 1 year low of $19.25 and a 1 year high of $28.62. The company has a market cap of $15.01 billion, a PE ratio of 73.17 and a beta of 1.34. The stock’s 50-day moving average price is $27.20 and its two-hundred day moving average price is $26.48.

News (NASDAQ:NWSA) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. News had a net margin of 2.64% and a return on equity of 4.51%. The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the prior year, the firm earned $0.14 EPS. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. On average, analysts predict that News Co. will post 0.87 EPS for the current year.

News Announces Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, October 9th. Investors of record on Wednesday, September 11th will be paid a $0.10 dividend. This represents a yield of 0.7%. The ex-dividend date is Wednesday, September 11th. News’s dividend payout ratio is currently 55.56%.

About News

News Corporation, a media and information services company, creates and distributes authoritative and engaging content, and other products and services for consumers and businesses worldwide. It operates in six segments: Digital Real Estate Services, Subscription Video Services, Dow Jones, Book Publishing, News Media, and Other.